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Home My WebLink About24523 RESOLUTION NO. 24523 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, CALIFORNIA, ACTING SOLELY IN ITS CAPACITY AS SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 19-20A & 19-20B) AND AN ADMINISTRATIVE EXPENSE BUDGET FOR THE PERIOD OF JULY 1, 2019, THROUGH JUNE 30, 2020, PURSUANT TO THE CALIFORNIA HEALTH & SAFETY CODE. WHEREAS, the Successor Agency to the Palm Springs Community Redevelopment Agency ("Successor Agency') is the successor to the Community Redevelopment Agency of the City of Palm Springs ("Former Redevelopment Agency'), a redevelopment agency in the City of Palm Springs, duly created pursuant to the California Community Redevelopment Law (Part 1 (commencing with Section 33000) of Division 24 of the California Health and Safety Code) (`Redevelopment Law"); and WHEREAS, the "Dissolution Act," comprised of Assembly Bill "ABX1 26" (Chapter 5, Statutes of 2011) and "ABX1 27" (Chapter 6, Statutes of 2011), and subsequent legislation including Assembly Bill "AB 1484" (Chapter 26, Statutes of 2012) and Senate Bill "SB 107" (Chapter 325, Statutes of 2015), made certain changes to the Redevelopment Law, including adding Part 1.8 (commencing with Section 34161) and Part 1.85 (commencing with Section 34170) to Division 24 of the California Health and Safety Code ("H&SC"); and WHEREAS, H&SC 34177(I) requires the Successor Agency to prepare a Recognized Obligation Payment Schedule ('BOPS") listing the enforceable obligations of the Former Redevelopment Agency, including administrative expenses; and WHEREAS, pursuant to H&SC Section 34177(o)(1), beginning in 2016, each successor agency has been required to adopt a ROPS before each annual fiscal period establishing its enforceable obligations for that period, identifying sources to satisfy those obligations, and tracking its fund balances. NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, ACTING SOLELY IN ITS CAPACITY AS THE SUCCESSOR AGENCY OF THE PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY, DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. The Recitals set forth above are true and correct and incorporated herein by reference. SECTION 2. The Recognized Obligation Payment Schedule (ROPS 19-20)for the period of July 1, 2019 through June 30, 2020, attached to and incorporated into this Resolution No. 24523 Page 2 Resolution as Exhibit A, is hereby approved. SECTION 3. The administrative budget of$250,000 for the period of July 1, 2019 through June 30, 2020, attached to and incorporated into this Resolution as Exhibit B, is hereby approved. SECTION 4. The City Manager or designee is authorized to take all actions necessary to implement this Resolution or any direction from the County Oversight Board, including without limitation, the posting of this Resolution and the Recognized Obligation Payment Schedule on the Successor Agency's website, provide notice of adoption of this Resolution and such Schedule to the County Auditor-Controller, the State Controller and the State Department of Finance or the filing of a notice of exemption from the California Environmental Quality Act. SECTION 5. The Successor Agency's governing board represents and warrants that it examined all of the items on the ROPS 19-20 and finds that each of them is necessary for the continued maintenance and preservation of property owned by the Successor Agency until disposition in accordance with the Dissolution Act, the continued administration of the ongoing enforceable obligations, or the expeditious wind-down of the affairs of the Former Redevelopment Agency by the Successor Agency. SECTION 6. In retaining the responsibilities of the Former Redevelopment Agency as provided in H&SC Sections 34173 and 34176, the City Council expressly determines, reaffirms, and ratifies the statutory limitation on the City and the City Council's liability in retaining the responsibilities of the Former Redevelopment Agency pursuant to the Dissolution Act. Nothing in this Resolution shall be construed as a commitment, obligation, or debt of the City or any resources, funds, or assets of the City to fund the City's service as the Successor Agency to the Palm Springs Community Redevelopment Agency as provided in this Resolution. SECTION 7. This Resolution shall take effect three days from adoption. PASSED, APPROVED, AND ADOPTED BY THE PALM SPRINGS CITY COUNCIL, ACTING SOLELY IN ITS CAPACITY AS THE SUCCESSOR AGENCY TO THE PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY, THIS 19TH DAY OF DECEMBER, 2018. DAVID H. READY, ATTEST: C ITY MANAG ER Av"4-r-A�Lt,� 9HON J. JIA, TY CLE Resolution No. 24523 Page 3 CERTIFICATION STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF PALM SPRINGS ) I, ANTHONY J. MEJIA, City Clerk of the City of Palm Springs, hereby certify that Resolution No. 24523 is a full, true and correct copy, and was duly adopted at a regular meeting of the City Council of the City of Palm Springs on the 191h day of December 2018, by the following vote: AYES: Councilmembers Holstege, Middleton, Roberts, Mayor Pro Tem Kors, NOES: and Mayor Moon None ABSENT: None ABSTAIN: None IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Palm Springs, California, this 2n-t� day of 't�c�mYjc� 2n t 'v'�G ANTHONY J. EJIA CITY CLERK Resolution No. 24523 Page 4 EXHIBIT A RECOGNIZED OBLIGATION PAYMENT SCHEDULE 19-20A & B Resolution No. 24523 Page 5 EXHIBIT B ADMINISTRATIVE EXPENSE BUDGET 19-20 The maximum amount of the allowable administrative budget for the Fiscal Year is $250,000, which is allocated to salaries and benefits as shown below: 40000 Salaries 175,896 41450 Telecommunication 258 41600 PERS Contribution 47,418 41700 Medicare Tax 2,551 41900 Fringe Benefits 23,619 41930 RHS Health Benefit 258 Total $250,000 Administrative costs to wind down the former Redevelopment Agency operations are estimated to be $300,000. This includes select staff time, legal costs, and consultant fees for financial reports and audits. The maximum amount of the allowable administrative budget paid with RPTTF funds is $250,000 per fiscal year. Recognized Obligation Payment Schedule(ROPS 19-20) -Summary Filed for the July 1, 2019 through June 30, 2020 Period Successor Agency: Palm Springs County: Riverside 19-20A Total 19-20B Total Current Period Requested Funding for Enforceable Obligations (ROPS Detail) (July - December) (January-June) ROPS 19-20 Total A Enforceable Obligations Funded as Follows (B+C+D): $ 2,400,036 $ $ 2,400,036 B Bond Proceeds - - C Reserve Balance 2,354,119 2,354,119 D Other Funds 45,917 45,917 E Redevelopment Property Tax Trust Fund (RPTTF) (F+G): $ 727,550 $ 3,129,812 $ 3,857,362 F RPTTF 602,550 3,004 12 3,607,362 AMU G Administrative RP _ 9F" 125,000 250,000 a H Current Period Enforceea a Obligations (A+E): $ — 3,127,686 $ 3,1 $ 6,257,398 -- Certification of Oversight Board Chairman: Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Name Title Payment Schedule for the above named successor agency. /s/ Signature Date Palm Springs Recognized Obligation Payment Schedule(ROPS 19-20)-ROPS Detail July 1,2019 through June 30,2020 (Report Amounts in Whole Dollars A B C D E F G H I J K L M N O P 0 19-20A Jul -December Fund Sources ContractAgreemerx CoreracUAgreement Total Outstanding ROPS 19.20 19-20A tam a Priced BamelDebt Obligation Obligation Type Execution Date Termination Date Payee Descrsdon/Project Scope Protect Area Debt or Obligation Retired Total Bond Proceeds Reserve Balance Other FundsM140,000 rest S 46530903 S 5257,398$ 0 $ 2354.119 $ 45917 $ 3.127,586 3 2007 Taxable Tax Allocaxrcn Bond,. Bonds Issued On or Before 9/182007 9112334 J5 Bank Pro A uie hon Merced 1 2 671.067 N $ I 46B 174 3096 124 BIts 62004 Comemen Center Bonds Bond Reim 11/12034 pity of Path Springs to Conversion Mergedl _ _ __. N $ - S 7 Contart Sera cis -F neroal Fees 9122/2010 6CO2019 Hamill&Company Bonds Disclosure/Rating Merged laderged 2 78,700 N $ 4,000 S Advisors 0 Contract Services-Rebate Fees 6142010 61302019 Wllldan Financial Services Bonds Rebate Consulting Services Merged Lklerged 2 21.500 N $ - $ - Calalabon B Bond Trustee Fees Fees BM64!004 11/12034 US Bank Bonds Trustee Fees Merged 1A1 d2 138000 N 5 8,800 $ 5,500 11 Dzpositian and Development Business Incentive 12I52W5 9M2022 Endure lnvesbnents Financial Assislanca(10 Year) Merged 420,000 N $ 14D,000 S 140000 A raiment Agreements 120wner Panticpation Agreement Business Incentive 1/196000 6r302018 VIP Motors Financial Asiaelwais Merged Y 8 $ for A reemenls dmbureement ieeegarroous12mi i RPM— t of a Dno* L- rills " Ma � -- - $ S Convention Center Bonds eontl Reimbureement 6I6/2007 1'll ac 4 City of Palm Springs Agency Contribution to Convert. Merged N S $ 3 Administrative Cost Allowance Atlmin Costs 711/2016 6r302018 City of Palm Springs O+erbead Cost AllocautmiSalanes Mer edt!Merged 2 4,01 N $ 250000 __ '2s n 10 S 125000 38CIty Loan and Interest CiryrLounry Loan(Prior 6/152oll 11l12035 City of Palm Springs Operating and Administrative Casts Mergetll 494.967 N $ 494967 459P 440ps0 $ 494,987 0629l11 Casb exdlan a For FV2010-11,General Fund Loan 39 Qty Loan and Iin.aiii CirylCdanry Loan(Poor 8115/2011 1 ill2035 City of Palm Spnngs Operating and Adminlsesmae Costs MerBad 2 Y 5 $ 0628/11 Ces0 excllange For FY 2010.11,General Fund Loan 40 City Loan and Interest 6/Sri 11y12D35 Cry of d 2 N $ $ ing. y.41 emeriti m bunry Loen(Prior 1 006 111112W5 Cry of ion of PSL — - __ $ exchange Sust i Yity(SPe.,at R i, ;. r 44200 Taxebla axAllowt ar Bo ids, Reserves 9118,2007 O!12034 US Snnk _ Reserve br September l DebtService Mergedl 127,659 N =,5 127 659 5 Sere,B 48 Props dy Tax Cork&Bottle Property Maintenance 71112013 613012019 Coamy of RNerslde Property Taxes on Agency Hetl Land Merged 1 Y $ Pmoeity Pendin PMP-Current l nstallmenl ' SO Property Tax-PSU 61302037 County gap E 622014 Subordinate Tax Allocation Refunding Bonds Issued 8/182014 9I112034 US Bank Refinancing of 20o1 and 2004 Bonds Mergedl/Merged 2 14,641,050 N $ 1.594,150 1,145450 $ 1345450 Bonds After 6127112 r382014 Subordinate Tax Allocation Reserves aM92014 9M2034 US Bank Reserve br September l Debt Service Mergetll/Merged2 1WS,7W N $ 1,36B,]00 $ - Bontls 70 LRPMP Properties Property Maintenance 7M2o16 6r80l202D To be determined Maintenance Costs on Agency Held McMedl!Merged 6,000 N $ 6,000 3,000 $ 3,000 Property PendingDisposition 71 LRPMP Properties Property DispotiBons ]/12016 61302@0 To be determined Costs for Disppstion of Agency Held Mergedl!Merge02 10,000 N E 10,000 6,g00 E 5,000 Property-Appraisals,Fencing,Closin Costa,etc ] 2017 Tax Allocation Refunding Refunding Bonds Issued ll/152017 8/12034 US Bank Refinancing A07 Series A Bonds Merged 15,1".Wo N $ 757.81 529,375 $ 529.375 Bands,BendsA After 6127112 7 2017 Tax Allocation Refunding Reserves 11l16r2017 12034 US Bank Reserve for September l Debt Service Merged l 523,475 N $ 523.475 E Bonds,Sense 752017 Taxable Tax Allocabon Refunding Bonds Issued 11116UO17 9/12034 US Bank Refinancing 2007 Series A Bonds Merged 6,522,563 N $ 431,907 354486 S 3544B5 Refund) Bontls.Sene.B After 627/12 762017 Taxable Tax Allocation Reserves 11AW017 9/12034 US Bank Reserve for September l Debt Serace Menged2 302,422 N $ 362.422 S RefundingBonds.SenesB 77 Property Tax-Cod,&Sold. Property Maintenance, 7/112016 t5iu19 Cry of Palm Springs Reimburse Admin Allowance Charged Merged 1 Y $ $ Property for"any Team Excess of ROPS 1 8 Estimate Palm Springs Recognized Obligation Payment Schedule(ROPS 19-20)-ROPS Detail July 1,2019 through June 30,2020 (Report Amounts in Whole Dollars) A B C D E F G H I J K R $ T U V W 19-208 Janus -June Fund Sources ContractiAgreement ContraNAgreemeM Total Outstanding ROPS 19-20 19-20B item a Protect NamelDebt Obligation Obligation Type Execution Data Termination Date Payee DescriptloruProled Scope Protect Area Debt or Obligation Retired Total Bond Proceeds Reserve Balance Other Funds RPTTF I Admin RPTTF Total $ 46,530,903 $ 6257398$ OS as 0 $ 3ON 812 $ 125,000 $ 3,129,812 32007-axable Tax Allocalian Bontls. Bonds l==uec On o-Befo-e 91181290 9/12934 JS Buns Property Acquisition Mered1 2671067 N $ 177466 52659 $ 5265 2004 Commended Center Bonds Bond Reimbursement City of Peen Spring. W., o M ile N s $ Agreements11w— - 7 Contract Servces -Fear eiel = as 922200 6202019 Harrell&Company Bonds Disclosure Rating Merged lNerged2 78.700 N 4000 4000 s 4,000 Advisers 8 Correct Service.-Rebate Fees 614/2010 6I302019 Windan Financial Services Bonds Rebate Consulting Services Merged INerged2 21,500 N s - s C91WIatlon 9 Bond Trustee Fees Fees 611S2004 11l12034 US Bank Bonds Trustee Fees Merged IN d2 1380o, N $ 8,800 3.360 $ 3,3W 11 Disppsaipn and Development Business Incentive 12/52005 111112 Endure lnvestmerns Financial Assistance(10 Year) Merged 420,M N $ 140,000 $ Agreement Agreements 12Owner Pana0aian Agreemerd Business Incentive 1119QOM 6/30201g VIP Motors Financial Assistance Merged Y $ $ A re nets eve M rsemefa Miscellaneous -- - - Ci of L- iaaae. .. ... d2 ". - $ b Convenlon Center Bonds Bond Reimbursement 8/8se 200] 11/12034 Ciry oFP Agency Contribution to Convention Merged N $ $ Administrative Cost Allowance Admit Cossa ts ]I12018 (Sw2018 Cit of Palms en s Overhead Cost AllocetionlSalanes Me edt)Merged2 4000000 N $ 25g00 125 oJU S 125,000 City Loan and Interest DitylCounty Loan(Prior 8/152011 11/1/2055 Gih of Palm Springs Operating and Administrative Costs Merged1 494.967 N $ 494,98 $ 06128111,Cash"Man a For FY 2010-11,Gerrard Fund Loan 30 City Loan and Interest CltylCauMy Loan(Prior 8/i52011 11/1Q035 Ciry of Palm Springs Operating and AdminlsVettve Costs Merged Y S $ 0628/11 Cash exchan e -- For FY 2010-11,General FurdLorm at 29 Springs N s $ f ement Cty/CouMy Loan 111i1ID35 Springs Prepay Portion of PSL 2 N $ - 9 _y- Bar28111),CeeO e -$Fund Sustaina dily(Special R _ Loan - M 2007 Taxable Tax Allocated Bonds, Reserves m 99/2034 US Bank Reserve for September 1 Deb$S�ico lverged 1 t27,659 '4 $ 12Z559 _ 12 6sP .$ 12]859 - Series B f1 48 Property Tax CorkB Battle Property Maintenance 7112013 6130,2019 County of Riverside Property Taxes on Agency Held Land rtrr9edl Pm a PendingPMP-Current Installment 6/302037 Merged 2 N E 622014 Subordinate Tax Allocation Refunding Bontls Issued 8/192014 9/112034 US Bank Refinancing of 2001 and 2004 Bonds MargedIi Merged 14,641050 N $ 1,594,150 24$700 248,700 Bonds After 627/12 S82014 Subordinate Tax Allocation Reserves 8/192U14 g112034 US Bank Reserve for September l Debi Service Mergedll Merged 1.368,700 N $ 1,368,7 1,368,700 1,368,700 Bonds 70 LRPMP Properties Property Maintenance 7/1/4016 61302020 To be determined Maintenance Costs on Agent,HNd Merged ll Merged 2 6,000 N $ 6.000 3,000 3,000 Property Pending Dispensed 71 LRPMP Properties Properly Dispositions 7112016 6I302020 To ce determined Costs for Dispostion of Agent,Held Merged l/Merged 2 10.000 N $ 10.000 5,000 3 5.00 Property-Appraisals,Fencing,Closin Cost,etc 732017 Tax Allocation Refunding Refunding Bonds Issued 11/152017 9112034 US Bank Refinancing 2007 Series A Bonds Merged 15,144,800 N s 757,850 229.475 4 228,4] Bonds.Sen..A After 621112 742017 Tax Allocated Refunding Reserves 11AS2017 9/12034 US Bank Reserve fair September l Debt Service Merged l 523,475 N $ 523,475 523.475 40 523.475 Bonds,Series A 75 2017 Taxable Tax Allocated Refunding Bonds Issued 11/152017 wl1 t 4 US Bank RaBnandng N07 Series A Bonds Merged 6,522,563 N $ 431,907 77.422 77,422 Refunding Bands,Series B After6R7/12 76 2017 Taxable Tax Allocation Reserves 11/152m7 9/12034 US Bank Reserve for September l Debt Service Merged 2 362,422 N $ 362,422 362,422 IS 362,422 Refunding Bands,Series B 77 PropeM Tax-Cork&Settle PropeM Maintenance 7AM18 6/J02019 City of Palm Springs Reimburse Admit Allowanra Changed Merged Y $ - Property far Property Tax in Excess of ROBB 1 8 Estimate Palm Springs Recognized Obligation Payment Schedule (ROPS 19-20) - Report of Cash Balances July 1, 2016 through June 30, 2017 (Report Amounts in Whole Dollars) Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see Cash Balance Tips Sheet. A B C D E F G H Fund Sources Bond Proceeds Reserve Balance Other Funds RPTTF Prior ROPS RPTTF and Reserve Rent, Non-Admin ROPS 16-17 Cash Balances Bonds issued on or Bonds issued on or Balances retained Grants, and (07101/16-06130117) before 12/31/10 after 01/01/11 for future period(s) Interest, etc. Admin Comments 1 Beginning Available Cash Balance(Actual 07/01116) RPTTF amount should exclude"A"period distribution amount - 36 1,341 1,177,815 t 62,447 14,958 _ 777 Revenue/income(Actual 06/30117) - RPTTF amount should tie to the-ROPS 16-17 total distribution from`t�i County Auditor-Controller 32 447 42,267 5,482,953 3 Expenditures for ROPS 16-17 Enforceable Obligations (Actual 06/30/17) Col H=$5,422,007 PPA Exp less$1,248,901 51 1,341 1,177,815 23,111 4,173,106 Included in Line 4 for Debt Service Reserves 4 Retention of Available Cash Balance(Actual M30/17) Cal -zl,35,585 appilea to - Iou"'INnern III RPTTF amount retained should only include the amounts distributed as Col H=$14,958 2017-18 Balances applied to 18- reserve for future periods) 19 Col M Item 11 (net of$4,896 per DOF Reconcilation)Plus$1,248,901 Debt Service 17 447 35,686 1,263,859 Reserves for 9/2017 payments 5 ROPS 16.17 RPTTF Prior Period Adjustment RPTTF amount should tie to the Agency's ROPS 16-17 PPA form submitted to the CAC No entry required 60,946 16-17 PPA 6 Ending Actual Available Cash Balance(06130117) ctoF=(1 +2-3-4),G=(1 +2-3-4-5) $ 0 $ 0 $ 0 $ 45,917 $ 0 lApply Col F to 19-20 Item 38 Palm Springs Recognized Obligation Payment Schedule (ROPS 19-20) - Notes July 1, 2019 through June 30, 2020 Item # Notes/Comments 38 Remaining Balance, does not exceed repayment formula 44 ROPS B Reserve for September 1 Debt Service = 100% of 2007 B Bonds Funded in ROPS B 70 Property maintenance costs -clean up and weed abatement- for 2 remaining properties 71 Updated appraisals may be needed in order to sell 2 remaining properties 74 ROPS B Reserve for September 1 Debt Service = 100% of 2017 A Bonds Funded in ROPS B 76 ROPS B Reserve for September 1 Debt Service= 100% of 2017 B Bonds Funded in ROPS B I COUNTYWIDE OVERSIGHT BOARD SUCCESSOR AGENCY TO THE 2 FOR THE COUNTY OF RIVERSIDE PALM SPRINGS COMMUNITY 3 REDEVELOPMENT AGENCY 4 RESOLUTION NO. 2019-_ 5 6 RESOLUTION OF THE COUNTYWIDE OVERSIGHT BOARD FOR 7 COUNTY OF RIVERSIDE APPROVING THE RECOGNIZED 8 OBLIGATION PAYMENT SCHEDULE AND ADMINISTRATIVE 9 BUDGET FOR THE PERIOD JULY 1,2019 THROUGH JUNE 30,2020 FOR THE SUCCESSOR AGENCY TO THE PALM SPRINGS 10 COMMUNITY REDEVELOPMENT AGENCY AND MAKING 11 RELATED FINDINGS AND DECLARATIONS AND TAKING 12 RELATED ACTIONS IN CONNECTION THEREWITH 13 14 WHEREAS, the Community Redevelopment Agency of the City of Palm Springs (the 15 "Former Agency") was formed, existed and exercised its powers pursuant to the Community 16 Redevelopment law(California Health and Safety Code section 33000 et seq. the "CRL"); WHEREAS, the California state legislature enacted Assembly Bill Ix 26, as modified by 17 Assembly Bill No. 1484 enacted on June 27, 2012, as further modified by Senate Bill No. 107 18 enacted on September 22, 2015, as such may be further amended (collectively, the "Dissolution 19 Act"), adding or amending Parts 1.8 and 1.85 to Division 24 of the Health and Safety Code, to 20 dissolve redevelopment agencies formed under the CRL; 21 WHEREAS, pursuant to Section 34173 of the Health and Safety Code, effective 22 February 1, 2012 the Successor Agency to Palm Springs Community Redevelopment Agency, a separate legal entity (the "Successor Agency") was formed to and charged with paying the 23 enforceable obligations, disposing of the properties and other assets, and unwinding the affairs of 24 the dissolved Former Agency; 25 WHEREAS, upon dissolution of the Former Agency, all authority, rights, powers, duties 26 and obligations previously vested with the Former Agency (except for the Former Agency's 27 housing assets and functions)under the CRL vested in the Successor Agency, which was declared 28 a separate legal entity effective June 27, 2012; - 1 - 1051\04\2372951.4 I WHEREAS, Section 341790)of the Health and Safety Code provides for the appointment 2 of a countywide oversight board (the "Countywide Oversight Board") with specific duties to 3 approve certain Successor Agency actions pursuant to Section 34180 of the Health and Safety 4 Code and to direct the Successor Agency in certain other actions pursuant to Section 34181 of the Health and Safety Code; 5 WHEREAS, the Successor Agency staff has prepared the proposed Recognized 6 Obligation Payment Schedule for the period of July 1, 2019 through June 30, 2020 ("ROPS FY 7 2019-20"), substantially in the form shown in Attachment "A", attached hereto and incorporated 8 herein by this reference; 9 WHEREAS, the Successor Agency staff has prepared an administrative budget for the 10 fiscal period commencing on July 1, 2019 and continuing through June 30, 2020 (TY 2019-20 11 Administrative Budget"), substantially in the form shown in Attachment "B", attached hereto and incorporated herein by this reference; 12 WHEREAS, the Successor Agency is entitled to an administrative cost allowance (the 13 "Administrative Cost Allowance") pursuant to Sections 34171(b) and 34183(a)(3) of the Health 14 and Safety Code in the amount of$250,000 for the 2019-20 fiscal year of which $125,000 will be 15 disbursed July 1, 2019 and approximately $125,000 will be disbursed January 2, 2020; 16 WHEREAS,the City Council of Palm Springs acting in its capacity as the governing board 17 of the Successor Agency, approved the ROPS FY 2019-20 and FY 2019-20 Administrative Budget by adoption of Resolution No. 24523, shown in Attachment "C", attached hereto and incorporated 18 herein by this reference; 19 WHEREAS, under Resolution No. 24523, the Successor Agency's governing board 20 represents and warrants that it examined all of the items on the ROPS FY 2019-20 and finds that 21 each of them is necessary for the continued maintenance and preservation of property owned by 22 the Successor Agency until disposition in accordance with the Dissolution Act, the continued 23 administration of the ongoing enforceable obligations,or the expeditious wind-down of the affairs of the Former Agency by the Successor Agency; 24 WHEREAS, pursuant to Section 34177 and 34180(g) of the Health and Safety Code, the 25 ROPS FY 2019-20 and FY 2019-20 Administrative Budget must be submitted to the Countywide 26 Oversight Board for the Countywide Oversight Board's approval; and 27 WHEREAS, the accompanying staff report, and attachments, attached hereto and 28 incorporated herein by this reference, provide the supporting information upon which the actions - 2 - 1051%04\2372951.4 I set forth in this Resolution are based. 2 3 NOW, THEREFORE, BE IT RESOLVED, FOUND, DETERMINED AND 4 ORDERED by the Countywide Oversight Board, in regular meeting assembled on January 17, 2020 in the meeting room located on the 1 st floor of the County Administrative Center, 4080 5 Lemon Street, Riverside, California, as follows: 6 1. The Countywide Oversight Board hereby finds, resolves, and determines that the 7 foregoing recitals are true and correct and are incorporated herein by reference, and, 8 together with information provided by the Successor Agency to the Palm Springs 9 Community Redevelopment Agency staff and the public, form the basis for the 10 approvals, findings, resolutions, and determinations set forth below. 11 2. Pursuant to the California Environmental Quality Act(CEQA),based upon a review of the evidence and information presented on the matter as it relates to the adoption of the 12 ROPS FY 2019-20 and the Administrative Budget FY 2019-20, the Countywide 13 Oversight Board has determined that such approval is categorically exempt from 14 CEQA pursuant to Section 15061(b)(3) of the State CEQA Guidelines because there is 15 no possibility that the activities in question will have a significant impact on the 16 environment and the amendment is merely the adoption of annual budget; it will not 17 require any construction activities and will not lead to any direct or reasonably foreseeable indirect physical environmental impacts; 18 3. That the Successor Agency's chief administrative officer's designee is directed to file a 19 Notice of Exemption with respect to the actions approved under this Resolution in 20 accordance with CEQA. 21 4. Under Section 34180(g) of the Health and Safety Code, the Countywide Oversight 22 Board must approve the establishment of the recognized obligation payment schedules 23 of the Successor Agency. 5. The Countywide Oversight Board hereby approves the ROPS FY 2019-20 attached 24 hereto as Attachment A (the "Approved ROPS FY 2019-20"). In connection with such 25 approval,the Countywide Oversight Board makes the specific findings set forth below. 26 6. The Countywide Oversight Board has examined the items on the Approved ROPS FY 27 2019-20 and finds that each of them is necessary for the continued maintenance and 28 preservation of property owned by the Successor Agency until disposition in - 3 - 1051W412 3 72 9 5 1.4 I accordance with the Dissolution Act, the continued administration of the ongoing 2 agreements herein approved by the Countywide Oversight Board, or the expeditious 3 wind-down of the affairs of the Dissolved RDA by the Successor Agency. 4 7. The Countywide Oversight Board Chairperson, Successor Agency chief administrative officer, and Countywide Oversight Board General Counsel are collectively authorized 5 to make any technical or clerical corrections to the Approved ROPS FY 2019-20 prior 6 to filing with the Department. 7 8. Under Section 341770) of the Health and Safety Code, the Countywide Oversight 8 Board must approve the Administrative Budget for the Successor Agency. 9 9. In accordance with the Dissolution Act, the Countywide Oversight Board hereby 10 approves the FY 2019-20 Administrative Budget, attached hereto as Attachment B (the "Approved Administrative Budget"). 11 10. The Countywide Oversight Board hereby authorizes and directs the City Manager of 12 the City of Palm Springs acting as chief administrative officer of the Successor Agency 13 to the Palm Springs Community Redevelopment Agency ("Successor Agency's 14 Director"), or the Successor Agency's Director's designees, to take all actions and sign 15 any and all documents necessary to implement and effectuate the actions approved by 16 this Resolution as determined necessary by the Successor Agency's Director, or the 17 Successor Agency's Director's designee. The Countywide Oversight Board hereby further authorizes and directs the Successor Agency's Director, or Successor Agency's 18 Director's designee, to execute all documents on behalf of the Successor Agency, and 19 to administer the Successor Agency's obligations and duties to be performed pursuant 20 to this Resolution. 21 11. If any provision of this Resolution or the application of any such provision to any 22 person or circumstance is held invalid, such invalidity shall not affect other provisions 23 or applications of this Resolution that can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The 24 Countywide Oversight Board declares that the Countywide Oversight Board would 25 have adopted this Resolution irrespective of the invalidity of any particular portion of 26 this Resolution. 27 12. The Countywide Oversight Board hereby authorizes and directs the County Executive 28 Office staff and the Successor Agency staff to take all actions necessary under the - 4 - 1051\04\2372951.4 I Dissolution Act to file, post, mail or otherwise deliver via electronic mail, internet 2 posting, and/or hardcopy, all notices and transmittals necessary or convenient in 3 connection with the approval of this Resolution. 4 13. Pursuant to Health and Safety Code Section 34179, specified actions taken by the Countywide Oversight Board may be reviewed by the State of California Department 5 of Finance, and, therefore, this Resolution shall not be effective until five (5) business 6 days after approval, subject to a request for review by the State of California 7 Department of Finance,or at the time and in the manner prescribed in Section 34179(h) 8 of the Health and Safety Code. 9 10 PASSED,APPROVED, AND ADOPTED by the Countywide Oversight Board for the 11 County of Riverside on January 17, 2020. 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 - 5 - 1051\04M72951.4 I I hereby certify the forgoing to be a true copy of a resolution passed and adopted by the Countywide 2 Oversight Board for the County of Riverside at a regular meeting thereof held on January 17,2020, 3 by the following vote: 4 AYES: BOARD MEMBERS: 5 6 NOES: BOARD MEMBERS: 7 ABSTAIN: BOARD MEMBERS: 8 ABSENT: BOARD MEMBERS: 9 10 11 Chairperson, Countywide Oversight Board 12 13 ATTEST: 14 15 Clerk of the Countywide Oversight Board 16 17 18 APPROVED AS TO FORM: 19 Countywide Oversight Board Legal Counsel 20 21 By: 22 23 24 25 Attachments incorporated by reference: 26 A. Approved ROPS FY 2019-20 B. Approved Administrative Budget 27 C. Successor Agency Resolution No_Approving ROPS and Administrative Budget 28 - 6 - 1051\04\2372951.4 1 2 3 4 5 6 7 8 9 10 ATTACHMENT "A" 11 APPROVED ROPS FY 2019-20 12 13 [behind this page] 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 - 7 - 1051\04\2372951 4 1 2 3 4 ATTACHMENT "B" 5 APPROVED ADMINISTRATIVE BUDGET 6 7 [behind this page] 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 - 8 - 1051\04\2372951.4 I ATTACHMENT "C" 2 SUCCESSOR AGENCY RESOLUTION NO. 24523 3 APPROVING ROPS AND ADMINISTRATIVE BUDGET 4 5 [behind this page] 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 - 9 - 1051\04\2372951.4